U S Concrete, Inc. (USCR) Downgraded to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of U S Concrete, Inc. (NASDAQ:USCR) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.
According to Zacks, “U.S. Concrete Inc. operates as a provider of ready-mixed concrete and concrete-related products and services to the construction industry in the United States. The Company operates in two segments: ready-mixed concrete and concrete-related products; and precast concrete. The Company’s ready-mixed concrete and concrete-related products segment produces and sells ready-mixed concrete, aggregates (crushed stone, sand and gravel), concrete masonry and building materials. Its precast concrete products segment produces and sells precast concrete products. Markets served by the Company include west Texas, northern California, New Jersey, New York, Washington, D.C., Oklahoma and the mid-Atlantic region. U.S. Concrete Inc. is based in Houston, Texas, USA. “
Several other brokerages have also weighed in on USCR. BidaskClub lowered U S Concrete from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Citigroup Inc. lifted their price objective on U S Concrete to $92.00 and gave the stock a buy rating in a report on Wednesday, August 9th. ValuEngine raised U S Concrete from a hold rating to a buy rating in a report on Friday, September 1st. Finally, Stifel Nicolaus reissued a buy rating and set a $98.00 price objective on shares of U S Concrete in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $89.00.
U S Concrete (USCR) traded up $0.80 on Friday, reaching $78.15. The company’s stock had a trading volume of 764,146 shares, compared to its average volume of 208,793. The firm has a market cap of $1,250.71, a price-to-earnings ratio of 26.31, a P/E/G ratio of 2.23 and a beta of 1.32. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.95 and a quick ratio of 1.79. U S Concrete has a 12-month low of $45.05 and a 12-month high of $83.85.
U S Concrete (NASDAQ:USCR) last released its earnings results on Friday, November 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.46 by ($0.47). The business had revenue of $354.60 million during the quarter, compared to analyst estimates of $364.16 million. U S Concrete had a net margin of 2.09% and a return on equity of 25.80%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. equities research analysts expect that U S Concrete will post 3.51 EPS for the current year.
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In other news, VP David Andrew Behring sold 361 shares of U S Concrete stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $81.56, for a total transaction of $29,443.16. Following the sale, the vice president now owns 10,804 shares of the company’s stock, valued at approximately $881,174.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William J. Sandbrook sold 6,500 shares of U S Concrete stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $75.80, for a total value of $492,700.00. Following the sale, the chief executive officer now directly owns 412,091 shares in the company, valued at approximately $31,236,497.80. The disclosure for this sale can be found here. Insiders have sold a total of 8,061 shares of company stock worth $614,718 in the last three months. 5.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in U S Concrete by 4.9% in the 2nd quarter. BlackRock Inc. now owns 1,825,946 shares of the construction company’s stock valued at $143,428,000 after buying an additional 85,391 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in U S Concrete by 34.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 903,180 shares of the construction company’s stock valued at $70,945,000 after buying an additional 231,798 shares in the last quarter. Vanguard Group Inc. boosted its stake in U S Concrete by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 793,426 shares of the construction company’s stock valued at $62,323,000 after buying an additional 13,675 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in U S Concrete in the 2nd quarter valued at $44,346,000. Finally, Dimensional Fund Advisors LP boosted its stake in U S Concrete by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 555,500 shares of the construction company’s stock valued at $43,635,000 after buying an additional 3,457 shares in the last quarter.
U S Concrete Company Profile
U.S. Concrete, Inc is a producer of ready-mixed concrete in select geographic markets in the United States. The Company conducts its operations through two business segments: ready-mixed concrete and aggregate products. The ready-mixed concrete segment engages principally in the formulation, production and delivery of ready-mixed concrete to its customers’ job sites.
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